Mama Money Financial Services, a leading fintech company specializing in affordable money transfers, has unveiled a new bank card that allows users to manage their finances via a custom-made WhatsApp solution. Launched in partnership with Access Bank and Pick n Pay, the Mama Money Card aims to address barriers to traditional banking, particularly for underserved communities.
In a statement released on Tuesday, Mama Money highlighted the card’s unique features, including the ability to deposit cash, check balances, buy airtime or electricity, and instantly freeze the card if it is lost or stolen—all through WhatsApp. Customers can also use the card for online shopping, in-store purchases, ATM withdrawals, and international money transfers to over 70 countries.
Co-founder Mathieu Coquillon explained that the card offers a simplified banking solution for individuals who may not have access to conventional banking services. “The Mama Money Card makes it much easier for underserved communities to access banking services with just a passport, asylum document, or South African ID to register,” Coquillon said.
He added that the initiative is particularly beneficial for employers who previously faced challenges paying staff in cash or through shared bank accounts. “Each card comes with a unique account number, making salary payments seamless and giving employees full control of their money,” Coquillon noted.
Beyond basic banking services, the Mama Money Card also promotes security, supports employment, and encourages savings, ultimately improving the livelihoods of its users.
Deven Moodley, Executive Head of Value-Added Services at Pick n Pay, praised the innovation, emphasizing its potential to reach South Africa’s unbanked population. “With convenient access through WhatsApp, this service removes barriers like the need for physical bank branches or ATMs. Given the widespread use of cell phones and WhatsApp in South Africa, the card is making essential banking and payment functions more accessible,” Moodley said.
Pick n Pay will support the initiative through its extensive store network, furthering its mission to promote financial inclusion in South Africa.
